ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

long term\ncapital gain / short term capital gain scam. He submitted that one such action was\ncarried

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

long term\ncapital gain / short term capital gain scam. He submitted that one such action was\ncarried

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

long term capital gain of Rs.85,38,145/- as exempt income u/s 10(38) of the Act. 4. Accordingly

DY COMMISSIONER OF INCOME TAX CIRCLE 7 PUNE, PUNE vs. KRUTI LALITKUMAR JAIN, PUNE

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2013-14

long- term capital gain. The said gain was taxed as long-term capital gain by the learned

PRADIP PRANLAL SHAH,PUNE vs. AU NATIONAL E-ASSESSMENT CENTRE DELHI, DELHI

Appeal is allowed

Bench: Shri R.K. Panda & Shri S.S. Godara

gain thereon was taxable as long term capital gain. 2] The Id. CIT(A) failed to appreciate

M/S. ANGELICA PROPERTIES PRIVATE LTD.,,PUNE vs. DEPUTY COMMISSIONER INCOME-TAX,,

The appeals of the assessee are partly allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No: 403/Pun/2015 िनधा"रणवष" / Assessment Year : 2010-11 Vason Engineers Ltd., Theadditional Commissioner Of (Formerly Angelica Properties Pvt. Vs Income Tax, Range1, Pune. Ltd.,) 301, Phoenix, Opp.Residency Club, Bund Garden Road, Pune – 411037. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / Ita No: 1738/Pun/2016 िनधा"रणवष" / Assessment Year : 2011-12 Angelica Properties Pvt. Ltd., The Deputy Commissioner Of Opp. Grand Hyatt Hotel, Vs Income Tax, Circle-1(1), Pune. Vimannagar, Puune – 411 014. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue Assessee By Shri Dharmesh Shah – Ar Revenue By Shri Naveen Gupta – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 22/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)-1, Pune Dated 30.01.2015 & 09.06.2016 For The Assessment Years 2010-11 & 2011-12 Respectively. 2. The Assessee In Ita No.403/Pun/2015 For The A.Y.2010-11 Has Raised Following Grounds Of Appeal: “1. The Ld. Cit(A) Has Erred In Law & In Facts Enhancing The Income From Sale Of ‘Matrix It Building’ By Changing The Head Of Income From Capital Gains To Business Income Without Complying With The Principles Of Natural Justice & Without Giving Any Opportunity Of Hearing.

Long Term Capital Gain of Rs. (-) 4,10,30,399/- and Short Term capital gains of Rs. 9,89,70,961/-, while

VASCON ENGINEERS LTD (SUCCESSOR TO ANGELICA PROPERTIES PVT. LTD.),PUNE vs. ADDITIONAL COMMISSIONER OF INCOME-TAX,, PUNE

The appeals of the assessee are partly allowed

Bench: Shri S.S.Viswanethra Ravi, Hon’Ble Jm & Dr. Dipak P. Ripote, Hon’Ble Am आयकरअपीलसं. / Ita No: 403/Pun/2015 िनधा"रणवष" / Assessment Year : 2010-11 Vason Engineers Ltd., Theadditional Commissioner Of (Formerly Angelica Properties Pvt. Vs Income Tax, Range1, Pune. Ltd.,) 301, Phoenix, Opp.Residency Club, Bund Garden Road, Pune – 411037. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue आयकरअपीलसं. / Ita No: 1738/Pun/2016 िनधा"रणवष" / Assessment Year : 2011-12 Angelica Properties Pvt. Ltd., The Deputy Commissioner Of Opp. Grand Hyatt Hotel, Vs Income Tax, Circle-1(1), Pune. Vimannagar, Puune – 411 014. Pan: Aafca 8644 J Appellant/ Assessee Respondent /Revenue Assessee By Shri Dharmesh Shah – Ar Revenue By Shri Naveen Gupta – Dr Date Of Hearing 24/06/2022 Date Of Pronouncement 22/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Of Ld.Commissioner Of Income Tax(Appeals)-1, Pune Dated 30.01.2015 & 09.06.2016 For The Assessment Years 2010-11 & 2011-12 Respectively. 2. The Assessee In Ita No.403/Pun/2015 For The A.Y.2010-11 Has Raised Following Grounds Of Appeal: “1. The Ld. Cit(A) Has Erred In Law & In Facts Enhancing The Income From Sale Of ‘Matrix It Building’ By Changing The Head Of Income From Capital Gains To Business Income Without Complying With The Principles Of Natural Justice & Without Giving Any Opportunity Of Hearing.

Long Term Capital Gain of Rs. (-) 4,10,30,399/- and Short Term capital gains of Rs. 9,89,70,961/-, while

SANGEETA BASAVRAJ MANGRULE,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 2,, AURANGABAD

Appeal is dismissed in above terms

long-term capital gain by circuitous means. While dealing with the issue of long-term capital gain

DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

In the result, both the appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Dineshkumar Ramchandra Tulsyan (Huf) Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Aachd5953R (Appellant) (Respondent) Assessment Year : 2014-15 Smt. Sumandevi Dineshkumar Tulsyan Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Ackpt1322Q (Appellant) (Respondent)

Gains. 8. The Assessing Officer discussed the modus operandi of bogus long term capital gains and explained

SARIKA AMIT SANAP,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 3,, AURANGABAD

In the result, assessee‟s appeal is dismissed

long term capital gain. This entry of long term capital gain is taken by selling the shares

HREYANSH VASUNDHARA FAMILY TRUST,PUNE vs. INCOME TAX OFFICER, WARD-7(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri R.K. Panda & Ms. Astha Chandra

term capital gains u/s 111A, long-term capital gains u/s 112A and dividend income) and the balance

HREYANSH VASUNDHARA FAMILY TRUST,PUNE vs. INCOME TAX OFFICER, WARD-7(1), PUNE, PUNE

In the result, the appeal of the assessee is allowed

Bench: Shri R.K. Panda & Ms. Astha Chandra

term capital gains u/s 111A, long-term capital gains u/s 112A and dividend income) and the balance

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Bench: Shri R. K. Panda & Ms Astha Chandra

long term capital gain / short term capital gain scam. He submitted that one such action was carried

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

Bench: Shri R. K. Panda & Ms Astha Chandra

long term capital gain / short term capital gain scam. He submitted that one such action was carried

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

Bench: Shri R. K. Panda & Ms Astha Chandra

long term capital gain / short term capital gain scam. He submitted that one such action was carried

AMIT BHASKARRAO SANAP,,AURANGABAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE -3, , AURANGABAD

In the result, appeal of the Assessee is Dismissed

Bench: Shri Partha Sarathi Chaudhury & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.78/Pun/2019 िनधा"रण वष" / Assessment Year : 2015-16 Amit Bhaskarrao Sanap, The Assistant A-2, N-4, Cidco, Aurangabad, Vs Commissioner Of Income Maharashtra – 431001. Tax, Circle-3, Aurangabad. Pan: Auips 4177 L Appellant/ Assessee Respondent /Revenue Assessee By None. Revenue By Shri S P Walimbe & Shri Arvind Desai – Dr Date Of Hearing 25/07/2022 Date Of Pronouncement 19/10/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-2, Aurangabad, Dated 13.11.2018 For The A.Y. 2015-16. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner (A), Aurangabad Confirming The Addition Of Rs.1,93.17.241/- Made By The A.O. In Computing The Income U/S 56 Instead Of Exempt U S. 10(38) Of The Act Of The Appellant Is Contrary To Law & Facts Of The Case.

Long-Term Capital Gain. He has explained the `Modus Operandi' of providing accommodation of long-term capital

ASSISTANT COMMISSIONER OF INCOME-TAX vs. SUNIL HARIPANT POPHALE,, NASHIK

In the result, the appeal of assessee in ITA No

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

term capital gains of ₹ 109.07 crores. The assessee did not claim any indexation for the computation of capital gains on the said transfer of shares and paid taxes @ 10%. Against this long

SMT. SUNITA AJAY RAMNATHKAR,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,

In the result, the appeal of assessee in ITA No

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

term capital gains of ₹ 109.07 crores. The assessee did not claim any indexation for the computation of capital gains on the said transfer of shares and paid taxes @ 10%. Against this long